I think I was fresh off my divorce and in my man-whore era. Owned my own house. Had lots of friends and played a lot of roleplaying games. Lots of World of Warcraft.
I guess I’d say I was at peak personal freedom. I had money, time, and minimal responsibility. It felt awesome. Then apparently you were born and fucked it all up.
Kidding. Things were cool for a good while. Few years later got bit by the bug to settle down and have kids of my own, which was a big transition to a different kind of enjoying life. Lots of good memories from 2007. If I could go back in time and live my life over starting at any point, that’s probably about when I’d choose.
lt seems you got lucky. Typical freshly divorced guys one hears about, own half of a house that they can’t use any more, but still a mountain of loans to pay, while in parallel having to pay monthly alliments to their ex-wifes.
No kids was the key factor. It was amicable and neither of us wanted to fight. Think the whole divorce ran us like $2k or less. Which is more than the wedding. We were also about on par with wages.
I did eventually lose the house because of the 2008 crash, but 2007 was good.
Sort of complex. House values went down so people lost the ability to get credit and a lot of folks lost their ability to sustain their lifestyles. Spending went down. People lost jobs. It was a big downward spiral.
People were unable to move to seek better opportunities because they were underwater on house loans. Ultimately, banks were affected because their customers were hurting.
Edit: oh and I forgot variable rate mortgages. As the economy got worse, payments went up. And this primarily affected folks who could barely make their payments as it was.
I think I was fresh off my divorce and in my man-whore era. Owned my own house. Had lots of friends and played a lot of roleplaying games. Lots of World of Warcraft.
I guess I’d say I was at peak personal freedom. I had money, time, and minimal responsibility. It felt awesome. Then apparently you were born and fucked it all up.
Kidding. Things were cool for a good while. Few years later got bit by the bug to settle down and have kids of my own, which was a big transition to a different kind of enjoying life. Lots of good memories from 2007. If I could go back in time and live my life over starting at any point, that’s probably about when I’d choose.
lt seems you got lucky. Typical freshly divorced guys one hears about, own half of a house that they can’t use any more, but still a mountain of loans to pay, while in parallel having to pay monthly alliments to their ex-wifes.
Happy it worked out for you so well!
No kids was the key factor. It was amicable and neither of us wanted to fight. Think the whole divorce ran us like $2k or less. Which is more than the wedding. We were also about on par with wages.
I did eventually lose the house because of the 2008 crash, but 2007 was good.
I would be interested about the mechanisms behind that, as I only observed it from afar out of Europe.
I then had the impression that for existing houses it was mainly a problem for the banks?
Didn’t know that owners like you also were directly affected.
Sort of complex. House values went down so people lost the ability to get credit and a lot of folks lost their ability to sustain their lifestyles. Spending went down. People lost jobs. It was a big downward spiral.
People were unable to move to seek better opportunities because they were underwater on house loans. Ultimately, banks were affected because their customers were hurting.
Edit: oh and I forgot variable rate mortgages. As the economy got worse, payments went up. And this primarily affected folks who could barely make their payments as it was.